Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Services CharterCode Series FS500: The Measurement of the Procurement Element of Broad-Based Black Economic EmpowermentAnnexe 500(A) |
A: B-BBEE PROCUREMENT SPEND:
A = sum of (B x C)
Where
A is the calculated total B-BBEE Procurement Spend for the Measured Entity. It is equal to the sum of the result of the product of B and C for each Supplier of the Measured Entity not excluded under the exclusion from total measured procurement spend;
B is the value of Procurement falling within Total Measured Procurement spend and not excluded under the exclusion from Total Measured Procurement spend from each Supplier of the Measured Entity;
C is the B-BBEE Procurement Recognition Level of each such Supplier of the Measured Entity.
B: THE CALCULATION OF PREFERENTIAL PROCUREMENT CONTRIBUTIONS TO B-BBEE
A = B/C x D
Where:
A is the score achieved per line item of the scorecard
B is the percentage achieved per line item of the scorecard
C is the target percentage per line item of the scorecard
D is the total points available per line item of the scorecard